HealthPlan Services
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Carriers are finalizing their state insurance exchange strategy in preparation for the October 2013 date by which medical plans will be available for purchase through these initiatives
he race is on for carriers planning to participate in state insurance exchanges. Under interim final rules issued by the Department of Health and Human Services (HHS) March 12th, states will be allowed the flexibility on how many key provisions of the law are implemented, and at the same time, if they wish to operate their own exchanges, they must "demonstrate complete readiness" by Jan. 1, 2013.
Enrollment through public exchanges is slated to begin in October 2013.Insurance exchanges will allow individuals and small businesses to compare health plans based on price, quality and coverage.
When the Department of Health and Human Services (HHS) issued its Medical Loss Ratio Final Rule in December, the revised regulations held several pleasant surprises for health plans. Most notably, the final rules eased some of the most onerous mandates related to issuing rebates for those plans that fall short of the MLR threshold.
The statistics are enough to keep anyone awake at night: Of the people who purchase their own coverage, HHS estimates that 45% are in plans that don't meet the minimum MLR.
The Patient Protection and Affordable Care Act of 2010 (PPACA) is redefining the health insurance marketplace, ushering in multiple regulatory mandates that impact nearly every aspect of carrier operations, and most industry experts are warning carriers to expect the worst.
Individual health insurance is one of the fastest growing segments in today's healthcare market. However, healthcare reform, tax policy changes and insurance mandates have made the rapidly changing landscape of this market a confusing and challenging place for carriers seeking to enter – or expand – in the space.
HealthPlan Services offers carriers services like premium billing, eBilling and consolidated list billing that can increase efficiency, customer satisfaction and reduce administrative expenses.
